Corporate Debtor

A corporate debtor is a company or organization that owes money to creditors and is in financial distress, potentially unable to pay its debts as they become due. In legal terms, it's a business that faces insolvency and may seek protection or restructuring under insolvency laws to settle its debts. This status helps the company manage its liabilities systematically while working towards a solution, such as debt resolution or bankruptcy, with the aim of balancing the interests of creditors and the company's future viability.